Author: FX
USD/JPY rebounded 0.6% on Friday as the Greenback stiffens. The pair gave a tidy technical bounce from a key moving average. Markets are broadly pivoting back into Fed rate cut hopes. USD/JPY rallied on Friday, gaining six-tenths of one percent and snapping a two-day losing streak as the Greenback finds broad-market support and bolsters the Dollar-Yen pairing from a fresh tap of the 50-day Exponential Moving Average (EMA). The US Dollar broadly gained ground on Friday as the Greenback gets bolstered by declining US Treasury yields in the face of renewed bets of Federal Reserve (Fed) rate cuts in 2025.…
The major US stock indices are closing higher for the day and for the week. The week gain, is the first for the new trading year for the broader indices. For the day:Dow industrial average rose 334.70 points or 0.78% at 43487.83S&P index rose 59.32 points or 1.00% at 5996.66NASDAQ index rose 291.91 points or 1.51% at 19630.20Russell 2000 rose 9.08 points or 0.40% at 2275.88For the trading week:Dow industrial average rose 3.69%.S&P index rose 2.91%NASDAQ index rose 2.45%For the new trading year, the major indices are also positive: Dow industrial average up 2.22%S&P index up 1.96% NASDAQ index up…
The market spotlight was mainly on U.S. inflation data that prompted traders to recalibrate Fed easing expectations. Here’s how the numbers turned out, as well as the top-tier catalysts that pushed major currencies around. Source link
In the above video, I take a look at the technical levels in play for the AUDUSD heading into the new trading week. For the week, the low on Monday traded to a new low going back to 2020, but could not sustain the bearish momentum. The subsequent rise saw a double top established at the 0.62457 level. That level will need to be broken and stay broken to increase the bullish bias in the new trading week. The pair is closing near the 100 and 200 hour MAs above and below 0.6200. Next week, momentum away from those MAs…
Global risk assets caught a nice bid this week, thanks to cooler-than-expected U.S. inflation data and dovish remarks from FOMC members Waller. Treasury yields plunged from 14-month highs, fueling gains across stocks, gold, and bitcoin, all of which hit fresh highs. Meanwhile, crude oil swung between $77 and $80 amid reports of U.S. sanctions on Russian oil firms and speculation about Israel-Hamas ceasefire talks. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More!…
The Dow Jones extended a bullish recovery on the back of rate cut hopes. US inflation remains above targets, but pressures may be easing slightly. Treasury yields are getting cheaper and rate cut bets are back on the rise. The Dow Jones Industrial Average (DJIA) added over a full percentage point in value on Friday, climbing around 500 points and vaulting back over 43,500 as market expectations for further rate cuts increased. Tech stocks are back on the rise as traders pile back into their risk appetite ways, and the banking sector is broadly climbing after a wide swath of…
In the video above, I take a look at the technicals driving the NZDUSD as we look toward the new trading week.The sellers are more in control below a cluster of MA with a high at 0.5612. If the price cannot get above those MAs, the sellers are in full control A move above that level, and there is still work to do to take back more control. However, it is gives the buyers some hope. Ultimately, it would take a move above the 38.2% of the move down from the November high at 0.5688 for the buyers to show…
The GBPUSD traded to new lows going back to November 2023 on Monday, but fell short of downside targets on the daily chart at 1.2039 to 1.20686. The low reached just below the 1.2100 level at 1.20989.The price bounced but quite frankly the price action was sloppy and misbehaving to the technicals for the rest of the trading week. Like other pairs, the high was reached on Wednesday on the USD selling after the US CPI. However for the GBPUSD, that high moved briefly above the 38.2% of the January trading range at 1.22808, but was quickly reversed and not…
The EURUSD bottomed this week on Monday after falling below the 61.8% of the move up from the 2022 low to the 2023 high at 1.0200. That break could not be sustained. The seller had their shot. They missed. The subsequent move higher saw the pair peak near the 38.2% of the move down from the December high to the January low. That level came in at 1.03494. The high reached 1.0353 and failed. Like the break at the low, the buyers had their shot. They missed. The last two days had seen the pair move up and down in…
The USDJPY last week, moved up to test a key target on the daily chart near 158.88. Sellers leaned and pushed the price off those levels into the close a week ago today.This week, the price of the USDJPY has stepped lower after peaking on Tuesday near the high of a swing area at 158.10. The pair moved below and away from a cluster of moving averages including the 100 and 200-hour MAs and the 100-bar MA on the 4-hour chart. The selling continued yesterday and into the Asian session today stretching to a key target area outlined in earlier…